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Tezos’ co-founder Arthur Breitman says side-chains are tricky and difficult

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In the event of Tezos’ first-ever on-chain upgrade, Arthur Breitman, the Co-Founder of Tezos, spoke with the popular crypto influencer Naomi Brockwell about the upgrades made on-chain versus implementation of the same on a second layer. Breitman said that the latter was “not stringent enough” and could be easily corrupted.

He went on to state that side-chains were tricky and added that layer 2 was difficult. According to the Co-Founder, deploying an on-chain upgrade implied “protecting the values in the system”.

In the case of Bitcoin, Breitman cited that if a system was open to changes, it became highly susceptible to the infusion of “bad stuff” by fraudulent actors in the network. Taking into account the upgrade protocols surrounding Bitcoin, the Co-Founder asserted that the protocols were bound with “strong cultural norms”. He added that the changes [if any] were very minimal and “uncontroversial” for the largest digital currency. Brockwell also added that any larger or significant network upgrade in Bitcoin would “necessitate a hard fork”.

In terms of protecting the network against corruption by malicious entities, Breitman believed that upgrades leading to Bitcoin hard fork had fairly “worked” for the digital coin. However, admitting the potential issue in the system, he stated,“The problem is that then you also give up on the ability of having more meaningful changes.”

Taking a jibe at Bitcoin enthusiasts, Breitman said that those who considered smart contracts “useless” had “sour grapes”. The creator also reflected on Tezos’ network and its first self-amendment and stated that the system evaded “external interference” and accommodated innovation simultaneously.

Source/ambcrypto

Tezos

Tezos Foundation funds Japanese research lab to develop Plasma layer on Tezos

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Tezos [XTZ], the seventeenth-largest coin by market cap, has witnessed rapid growth from the time of its launch. Recently, Tezos surpassed DASH and stood in the fifteenth position briefly, before falling again. The price of the coin, at press time, was falling by 3.48% over the last 24 hours. At the time of writing, the coin was valued at $1.19, with a market cap of $783 million. The 24-hour trading volume of the coin was $7.10 million and most of it came from BitMax exchange via the trading pair XTZ/BTC.

In a recent update, the Tezos Foundation shared the latest development in the ecosystem on Twitter. The tweet read,

The tweet stated that a Tokyo-based research lab, Cryptoeconomics, had secured a grant to develop a Plasma layer, “a layer-2 scaling technique which increases the transaction throughput on blockchains.”

The plasma layer is said to be implemented on Tezos following Plasma Group’s Generalized Plasma Specification. The implementation will be carried out by the Cryptoeconomics Lab team, which will be headed by Shogo Ochiai. Further, the team will reportedly carry out an audit of the implementation prior to its release.

The update was also confirmed by a blog post released by the Tezos Foundation. The blog post implied that an Android wallet application will be initiated by the Lab and that Tezos would be a part of its application development toolset, Plasma Chamber. The blog post further said,

“This implementation will be integrated into Cryptoeconomic Labs’ Plasma-Rust framework.”

Source:ambcrypto

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Tezos

Bitfinex announces Tezos pairs XTZ/USD, XTZ/BTC and Stellar pairs XLM/USD, XLM/BTC for margin trading

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Despite never-ending controversies throughout the years, Bitfinex is making several developments in the ecosystem. Bitfinex reached out to the community on Twitter announcing the latest developments. The tweet read,

The advancements were further confirmed through a blog post released by the exchange. According to the blog post, Tezos pairs like XTZ/USD and XTZ/BTC along with Stellar pairs, XLM/USD and XLM/BTC will be available on the exchange’s margin trading feature. The exchange would allow the above-mentioned pairs to be traded with an initial equity of 50% along with a maximum leverage of 2x.

Furthermore, the blog post also mentioned that the exchange has expanded its collateral choices as more number of cryptocurrencies like XLM, XTZ, Cosmos[ATOM] and Ampleforth[AMPL] have been added and could be used as collateral for margin trading with a haircut of 50%.

Additionally, the exchange also shut down its partner exchange Ethfinex and launched an independent exchange, DeversiFi. The new exchange consists of employees from the Bitfinex as well as Ethfinex however it is said to function autonomously with separate management and resources.

Source:ambcrypto

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Tezos

Bitfinex announces Tezos pairs XTZ/USD, XTZ/BTC and Stellar pairs XLM/USD, XLM/BTC for margin trading

Published

on

Despite never-ending controversies throughout the years, Bitfinex is making several developments in the ecosystem. Bitfinex reached out to the community on Twitter announcing the latest developments. The tweet read,

The advancements were further confirmed through a blog post released by the exchange. According to the blog post, Tezos pairs like XTZ/USD and XTZ/BTC along with Stellar pairs, XLM/USD and XLM/BTC will be available on the exchange’s margin trading feature. The exchange would allow the above-mentioned pairs to be traded with an initial equity of 50% along with a maximum leverage of 2x.

Furthermore, the blog post also mentioned that the exchange has expanded its collateral choices as more number of cryptocurrencies like XLM, XTZ, Cosmos[ATOM] and Ampleforth[AMPL] have been added and could be used as collateral for margin trading with a haircut of 50%.

Additionally, the exchange also shut down its partner exchange Ethfinex and launched an independent exchange, DeversiFi. The new exchange consists of employees from the Bitfinex as well as Ethfinex however it is said to function autonomously with separate management and resources.

Source:ambcrypto

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